The one-mile strip of fast-food joints and pawn shops leading to the front gate of Ft on Gen. Screven Way. Stewart, getting a loan of $100 to $500 is all about as simple as purchasing a cheeseburger.
Numerous businesses that are strip-mall such names as look into CA$H (вЂњNeed money Today? ItвЂ™s effortless as 1-2-3″), First American money Advance, Gold Check C.S. Payday Advance, and PJ money (вЂњCivilian and WelcomeвЂќ that is military).
Ft. Stewart has declared so-called payday loan providers enemies at its gate, https://onlinepaydayloansohio.org/ accusing them of preying on U.S. troops with high-interest, short-term loans that plunge them deep into financial obligation.
вЂњItвЂ™s like riding a merry-go-round — when you can get on, it is difficult to log off,вЂќ said Frederick Sledge, a crisis relief officer at Ft. Stewart whoever workplace provides loans that are interest-free soldiers in financial difficulty.
Army bases through the country are becoming magnets for payday lenders, which charge charges since high as $30 every fourteen days per $100 borrowed — which equals a yearly interest of 780%.Continue reading